| Answer: According to our
research some of the most successful small businesses you can start
up today are in the professional business services category.
These businesses offer financial services like accounting,
legal services, payroll services, and insurance products. These types of
small businesses can be very profitable because they
generally don't have a lot of high over head expenses
including a large payroll and equipment expenses which at
the end of the day can help the bottom line. These
businesses also offer the types of small
business services that have the ability to generate
residual income
which is always welcome as a way to maintain a more predictable
cash flow. As you probably have
heard Internet related or web based businesses also have the
right ingredients to be very successful and profitable small
businesses to start for a number of reasons. This
includes generally low start up and operating costs (it can
cost less than $50 a year to host a website), vast market
potential, scalability, and healthy profit margins on many
services like advertising and membership subscriptions.
Another very
profitable and successful small business category today is
health
care and medical related services such as dental services,
medical practices,
medical testing labs, chiropractic services,
physical therapy, and other out- patient
related services. These types of businesses also generally enjoy
very
high profit margins and are considered recession proof or resistant because
demand keeps rising in good times or bad. They are also well
positioned to benefit from our large and rapidly growing
population of seniors and the elderly. |
